Crisis management 'becoming more important for companies'

Companies in the UK are finding that crisis management is becoming an increasingly important priority in the current economic climate.

This is according to Dr Paul Robertson, head of crisis management at PricewaterhouseCoopers (PwC), who said wide-ranging management strategies are necessary to cope with unforeseen problems.

According to Dr Robertson, this will include creating skills and behaviours among the leadership that may not be part of everyday management, something that should extend all the way up to senior management.

Performing for crisis management exercises is particularly vital, as it can be an issue if teams are only working together for the first time when a real crisis hits.

"Damage to company reputation, loss of market share, loss of market value, breach of industry regulation - these are all risks organisations face if they don't invest in truly comprehensive crisis management capability," the expert added.

Last month, leadership consultancy First100 noted that fast action has become an increasingly important priority for companies in recent times.

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